Insuritas debuts iInsure API integration with Hiscox
Insuritas, in partnership with Hiscox Insurance, debuts iInsure to enable banks and credit unions to fully integrate insurance quote and buy capabilities into their high usage digital banking platforms.
Hiscox Insurance is the first carrier partner to integrate directly into this distribution platform.
“Operating inside our financial institution-owned insurance platforms, iInsure systematically aggregates information from a customer’s loan and deposit relationships and can determine a customer’s policy renewal date. Our bank and credit union partners can now dynamically present an invitation for commercial customers to shop insurance through the bank’s agency when the customer is authenticated into their digital banking account. iInsure enables our banks’ business customers to secure insurance coverage for the next year in under two minutes, empowers the insurance carrier – in this case Hiscox – to write profitable premium for a preferred risk with no human interaction, and allows our bank and credit union partners to build recurring, value added, non-interest income – that promotes retention – and delivers a uniquely frictionless customer experience.” – Matt Chesky, President of Insuritas.
“With the customer as an authenticated user, the bank instantly passes all relevant insurance underwriting information to its wholly owned insurance agency through our iInsure API. Our proprietary underwriting engine assesses coverage needs based on class of business, size and location – and our back-end recommendation platform dynamically matches the risk with a carrier whose product and risk appetite align precisely with the small business owner’s needs. Within seconds – we’re able to present bindable quotes and offers tailored to meet the customer’s exact needs – for coverages including Professional Liability – General Liability and a Business Owners Policy.” – Tracy O’Brien, CTO of Insuritas.